Clearstead Trust LLC Has $68.41 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Key Points

• Clearstead Trust LLC increased its stake in Invesco QQQ by 4.1%, now holding 145,887 shares valued at approximately $68.41 million, making it the firm's largest investment.
• Invesco QQQ's stock price has seen a 1-year high of $574.63 and a low of $402.39, with a recent decline of 2.0% noted.
• The company recently announced a quarterly dividend of $0.5911, translating to an annualized yield of 0.4%.

Clearstead Trust LLC boosted its holdings in Invesco QQQ (NASDAQ:QQQ - Free Report) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,887 shares of the exchange traded fund's stock after purchasing an additional 5,745 shares during the quarter. Invesco QQQ makes up approximately 15.2% of Clearstead Trust LLC's holdings, making the stock its biggest position. Clearstead Trust LLC's holdings in Invesco QQQ were worth $68,409,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bridge Generations Wealth Management LLC bought a new position in Invesco QQQ in the 4th quarter worth approximately $35,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Invesco QQQ in the 4th quarter worth approximately $36,000. Alpine Bank Wealth Management bought a new position in Invesco QQQ in the 1st quarter worth approximately $50,000. Westend Capital Management LLC bought a new stake in Invesco QQQ in the 1st quarter worth approximately $51,000. Finally, Banque Transatlantique SA bought a new stake in Invesco QQQ in the 4th quarter worth approximately $57,000. 44.58% of the stock is currently owned by institutional investors.

Invesco QQQ Stock Down 2.0%

NASDAQ:QQQ opened at $553.88 on Monday. Invesco QQQ has a 1 year low of $402.39 and a 1 year high of $574.63. The stock's 50 day simple moving average is $544.01 and its two-hundred day simple moving average is $510.67.

Invesco QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 23rd were paid a $0.5911 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.4%.

About Invesco QQQ

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust's investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.